Buy Sun Pharma Advanced Research Company: Prakash Diwan

Prakash Diwan of Altamount Capital Management told CNBC-TV18, "Sun Pharma Advanced Research Company is an opportunity to buy in. This is very akin to a company that could be in to something as risky as oil exploration. It is a binary return of sorts but the cost that you are paying for a quality business like that even at these levels is not much."

"When the cost becomes too high for the reward that you could potentially get, that’s when you start questioning whether you should get in but at this point the kind of stable that they have created for themselves, it is not really too much of material cost and infrastructure and that doesn’t go up exponentially but the rewards go up exponentially," he said.